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Dec 12, 2012
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steve sedgwick -- steve sedgwick with more. steve? >> reporter: hey, just head the prompt. it's me in vienna. it does feel like winter, minus three here. but i can tell you that opec should be happy. it is producing nearly 31 million barrels a day. it's got brent over $108 a barrel. brent will be over $110 a barrel on average for 2012. for the first time ever. olympic making a trillion dollars in -- opec is making a trill dollars trillion dollars in oil. they're worry good oversupply going into 2013. they are concerned that the call on their oil is going to be less than 30 million barrels a day even though they're producing the best part of 31 million barrels ail day. surely they should be taking a little off the table if they want to keep it at current levels. the problem is they don't take any off the table officially. it would send out the wrong message politically. but there's a real concern that oecd inventories, the consuming, western nations, eventually got inventories above 59 days, which is the first time we've seen that in 2012. and it's above the average over the
steve sedgwick -- steve sedgwick with more. steve? >> reporter: hey, just head the prompt. it's me in vienna. it does feel like winter, minus three here. but i can tell you that opec should be happy. it is producing nearly 31 million barrels a day. it's got brent over $108 a barrel. brent will be over $110 a barrel on average for 2012. for the first time ever. olympic making a trillion dollars in -- opec is making a trill dollars trillion dollars in oil. they're worry good oversupply...
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Dec 6, 2012
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conversation with our steve liesman. in corporate news, the apple coming off its worst day ofs losses this almost four years. u.s. equity futures, though, not too bad so far today. indicated up about 15 points. today is thursday, december 6th, penultimate day before the day of infamy. "squawk box" begins right now. >> welcome to "squawk box." i'm becky quick along with joe kernen. andrew ross sorkin is on vacation this week. onset with us is drew mattis. welcome. thanks for getting up early. >> i'm always up at this time. >> we'll be going through secretary geithner's comments, but first let's get you up to speed on other stories. joe was talking about apple. it has been a rough ten weeks for the most valuable u.s. company. shares tumbling more than 6% yesterday shedding $35 billion of market value. among the reasons cited by analysts, a forecast by an influential research firm suggesting that the iphone and ipad maker is continuing to give up ground it rival the android gadgets. there were also unconfirmed reports that
conversation with our steve liesman. in corporate news, the apple coming off its worst day ofs losses this almost four years. u.s. equity futures, though, not too bad so far today. indicated up about 15 points. today is thursday, december 6th, penultimate day before the day of infamy. "squawk box" begins right now. >> welcome to "squawk box." i'm becky quick along with joe kernen. andrew ross sorkin is on vacation this week. onset with us is drew mattis. welcome....
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Dec 13, 2012
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cnbc's steve liesman joins us now with more. you could have been, steve, oh, you're going to do it actually. on any of the previous discussions that we've had. you could have been here and i would have valued your input. but what we finally decided was, either -- >> ten years. >> took ten years to do that. >> yeah, yeah, yeah. what we finally decided was that, whether andrew's right with this reinhart rogue off, the financial crisis was so deep, or whether i'm right that a lot of government policies with regulation, and uncertainty, whether one of us is right about the economy, just not -- >> somewhere in the middle. >> both right in the middle. but we still need training wheels and bernanke is all too willing to have those training wheels on indefinitely. >> well, first of all from bernanke's point of view he has this zero interest rate policy. he cannot set policy below zero. he has this problem. what is the appropriate policy for the economy and the way it is given -- >> given his duel mandates. we've got to change the dual m
cnbc's steve liesman joins us now with more. you could have been, steve, oh, you're going to do it actually. on any of the previous discussions that we've had. you could have been here and i would have valued your input. but what we finally decided was, either -- >> ten years. >> took ten years to do that. >> yeah, yeah, yeah. what we finally decided was that, whether andrew's right with this reinhart rogue off, the financial crisis was so deep, or whether i'm right that a lot...
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Dec 11, 2012
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steve liesman joins us with the results there cnbc's latest fed survey. steve? can you make it any better? >> i don't know about that. what we have, andrew, is overwhelming support from our -- or expectation from our respondents, 48 respondents, economists, wall street strategists, and analysts, that the fed will replace twist with outright asset purchases. disagreement on how they'll do it and increasing concern about all these purchases and the effect on the market. let's start off with the disagreement about how they're going to do it. we asked people, will the fed purchase only treasuries when it replaces operation twist? or will it purchase treasuries and mortgages? you can see that they're about split on this. unclear what chairman bernanke is going to announce tomorrow. now, how about how much qe? they're pretty united on that. this is what we call distributions. the percentage of respondents answering which number. you can see pretty much the biggest priority, 35% at $85 billion. so that's $40 billion that they're doing already and then replacing twist w
steve liesman joins us with the results there cnbc's latest fed survey. steve? can you make it any better? >> i don't know about that. what we have, andrew, is overwhelming support from our -- or expectation from our respondents, 48 respondents, economists, wall street strategists, and analysts, that the fed will replace twist with outright asset purchases. disagreement on how they'll do it and increasing concern about all these purchases and the effect on the market. let's start off with...
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Dec 10, 2012
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steve, good morning. >> good morning, becky. thanks. the stronger than expected jobs were not making believers of many economists. they continue to expect weak fourth quarter growth after that number came in at 146,000 with an expectation of around 85,000. fourth quarter growth estimates range from a low of below a half a point, 0.4%. that coming from morgan stanley. the high from what i could gather this morning, 1.5% at jpmorgan. remember that third quarter growth was 2.7 pfrs. a lot of this, though, is going to be inventories. suggesting the growth back drop a little bit stronger than what the number might imply. but the declining unemployment rate fell 0.2 to 7.7% complicates the job for the fed which is expected to place operation twist, where it sells short-term securities and buys long-term ones, with just outright asset purchases on the long end. here's the fed forecast for the fourth quarter. notice the actual there, at 7.7%. it's now at -- the forecast for the end of this year,.1%. it's now averaging you can see there on the l
steve, good morning. >> good morning, becky. thanks. the stronger than expected jobs were not making believers of many economists. they continue to expect weak fourth quarter growth after that number came in at 146,000 with an expectation of around 85,000. fourth quarter growth estimates range from a low of below a half a point, 0.4%. that coming from morgan stanley. the high from what i could gather this morning, 1.5% at jpmorgan. remember that third quarter growth was 2.7 pfrs. a lot of...